ECS Property Limited 12025075 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is property investment Digita Accounts Production Advanced 6.30.9574.0 true true 12025075 2022-06-01 2023-05-31 12025075 2023-05-31 12025075 bus:OrdinaryShareClass1 2023-05-31 12025075 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 12025075 core:Non-currentFinancialInstruments 2023-05-31 12025075 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 12025075 bus:SmallEntities 2022-06-01 2023-05-31 12025075 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 12025075 bus:FullAccounts 2022-06-01 2023-05-31 12025075 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 12025075 bus:RegisteredOffice 2022-06-01 2023-05-31 12025075 bus:Director1 2022-06-01 2023-05-31 12025075 bus:Director2 2022-06-01 2023-05-31 12025075 bus:Director3 2022-06-01 2023-05-31 12025075 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 12025075 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 12025075 countries:EnglandWales 2022-06-01 2023-05-31 12025075 2022-05-31 12025075 2021-06-01 2022-05-31 12025075 2022-05-31 12025075 bus:OrdinaryShareClass1 2022-05-31 12025075 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 12025075 core:Non-currentFinancialInstruments 2022-05-31 12025075 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12025075

ECS Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

ECS Property Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

ECS Property Limited

Company Information

Directors

Mr Ashok K S Patel

Mr Vikash Patel

Mrs N Patel

Registered office

Ecs House
3B Lamson Road
Rainham
Essex
RM13 9YY

Accountants

Tahas & Co Ltd
Chartered Certified Accountants
Suite 3, Second Floor
760 Eastern Avenue
Newbury Park
London
IG2 7HU

 

ECS Property Limited

(Registration number: 12025075)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

5,880,327

5,880,327

Current assets

 

Cash at bank and in hand

 

227,074

441,361

Creditors: Amounts falling due within one year

5

(6,094)

(1,201)

Net current assets

 

220,980

440,160

Total assets less current liabilities

 

6,101,307

6,320,487

Creditors: Amounts falling due after more than one year

5

(3,438,911)

(3,681,361)

Net assets

 

2,662,396

2,639,126

Capital and reserves

 

Called up share capital

6

10,000

10,000

Retained earnings

2,652,396

2,629,126

Shareholders' funds

 

2,662,396

2,639,126

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 February 2024 and signed on its behalf by:
 

.........................................
Mr Ashok K S Patel
Director

 

ECS Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ecs House
3B Lamson Road
Rainham
Essex
RM13 9YY
United Kingdom

These financial statements were authorised for issue by the Board on 16 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

ECS Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

ECS Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Investment properties

2023
£

At 1 June

5,880,327

At 31 May

5,880,327

 

ECS Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

4,893

-

Accruals and deferred income

1,200

1,200

Other creditors

1

1

6,094

1,201

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

3,438,911

3,681,361

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

10,000

10,000

10,000

10,000

         

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

2,233,000

2,475,450

Other borrowings

1,205,911

1,205,911

3,438,911

3,681,361